Pi coin is down sharply today, plunging over 20% to $0.69, indicating that the Pi community was not impressed with the major ecosystem announcements during Consensus 2025. The Pi Network revealed this week that the $100 million venture capital fund to fund startups building on Pi is now active. However, the news failed to stabilize price action, with the token shedding billions in value. Pi Coin Crashes Despite $100M VC Fund News At the time of writing, Pi coin trades at $0.69, with a 24-hour trading volume of $572 million. This surge in volume is almost 45%, pointing towards panic selling as the market cap has gone down from 6.72 billion to $4.93 billion within 24 hours. As per the Pi Core Team, the $100M Pi Network VC fund will be used to invest in AI, fintech, marketplaces, and other sectors integrating Pi. The fund is backed by Pi Foundation… Read More at Coingape.com

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Filed under: News - @ May 17, 2025 11:26 am